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Talent & Modeling Agencies
First Research, April 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US talent and modeling agency industry includes about 3,500 companies with combined annual revenue of about $5 billion, as well as many sole proprietorships with no paid employees. Major companies include Creative Artists Agency (CAA), International Creative Management (ICM), IMG, and William Morris Endeavor Entertainment (WME Entertainment). The industry is fragmented: the top 50 companies account for less than 45 percent of industry revenue.
The industry includes agents and personal managers who represent or manage actors and entertainers, models, sports figures, and other public figures. Agents focus on finding clients work; personal managers generally find sponsorships and endorsements for clients.
COMPETITIVE LANDSCAPE
Demand is driven by the performing arts, sports entertainment, and advertising industries. The profitability of individual agencies depends on the success of agents' talent in winning auditions, leading to a steady stream of contracts. Large agencies have advantages in relationships with major studios, fashion designers, and cosmetic companies. Small agencies can compete successfully by specializing in a particular medium or location and developing niche customer relationships.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services are finding auditions for clients and negotiating contracts. Additional services include finding photographers, arranging acting teachers, satisfying other support needs, and securing endorsement deals.
Agents promote their talent and models to buyers based on required gender, age, race, looks, and talent the buyer needs for a project. Agents submit the talent's head shot, composite card, or portfolio to arrange for an audition or, in the case...
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